Customers of Houston-based Octopus Energy will save money thanks to an innovative home battery program that rewards customers for sending power back to the grid. Intelligent Octopus for Home Batteries will deliver substantial customer savings while supporting grid stability.
This initiative enables Texas homeowners to use their batteries to support the grid based on real-time conditions. In exchange, customers supercharge their savings by getting 50% off their Octopus Energy rate when their home battery is connected to Intelligent Octopus. This allows Octopus to automatically fill the battery when the grid is in surplus from renewables and send power back to the grid when the grid is constrained.
Intelligent Octopus is an innovative consumer offering, powered by the Kraken software platform, that connects a homeowner’s electric vehicle, electric vehicle charger, smart thermostat, or, in this case, battery to the grid. Octopus Energy optimizes customers’ devices to operate when energy it’s needed, unlocking significant savings without customers having to lift a finger or compromise their comfort.
Octopus Energy covers the cost of charging the battery for energy that ends up being exported and any available energy can be dispatched to the grid when it’s needed most – for example, during extremely hot summer afternoons. Customers can connect their battery through the Octopus Energy app, where it will be continuously optimized, and will be rewarded every month with 50% off their energy rate.
Michael Lee, CEO of Octopus Energy US, said: “Intelligent Octopus for home batteries is transforming residential energy use in Texas. With ERCOT projecting demand for power will nearly double in six years, the grid can use every MW it can get. Empowering customers across the state of Texas to play a role in building a reliable grid for the future is a big opportunity. This is just a first step for millions of Texans to enjoy lower power prices while simultaneously contributing to grid stability in a major way.”
For customers who don’t yet have a battery at their house, Octopus will connect them with preferred installation partners.
The program is part of Octopus Energy’s efforts to build a more resilient, customer-centric, and greener grid. By participating, customers are helping to keep the lights on across the state and avoid rolling blackouts or grid failure during peak times.
To learn more about Intelligent Octopus for home batteries, visit online here.
